Gerald Celente’s Take On Financial Reform (UPDATED)

Gerald Celente of Trends Research Institute believes that the financial reform bill being put forward by Chris Dodd is just more dog and pony show coming out of the District. Mr. Celente does not pull any punches in this interview with Russia Today about the players involved and the massive amount of money that is flowing back and forth between D.C. and Wall Street. He even talks about the $10 million that Dodd has received from the financial sector in five years, and Greg Craig slithering from the White House over to Goldman Sachs to help out.

When I read that Politico article, it only made sense that Craig would leave the WH a few months earlier if the big cheeses knew they were going to pull out all the stops to get financial deformity passed. It is such a win-win situation for everybody involved excluding the American people. Goldman agrees to be the sacrificial lamb in order to get this bill passed, they get a WH counsel to ‘defend’ them, Barry moves his main lawyer handling all of his eligibility suits into the WH counsel chair, the bill is shot through the Senate and the banks are forever going to be bailed out AND the government knows everything there is to know financially about every single American (read further). Sounds pretty good to me, unless of course, you are one of US!

It’s just another episode in the presidential reality show to make people feel like they are doing something.

Commentator: If this is just a show, as you are arguing that it is, why are wall street lobbyists fighting it in full force in Washington D.C. as we are hearing has been reported.

Gerald Celente: Because they are money junkies; they want every penny that they can squeeze.

(I have my own thoughts farther down in the post about why there is so much “resistance” to financial reform.)

Mr. Celente also mentions future bank bailouts in the bill on page 1379. He was correct, and here is the screenshot of page 1379 of Dodd’s markup.

Pg. 1379, click to enlarge

(The Corporation is the US Government)

(UPDATED: I just found this article on Politico; Obama: Bank bill would end bailouts with the following quote that appears to be misinformation considering page 1379 of the Dodd bill:

“That’s why I went to New York City this week and addressed an audience that included leaders in the financial industry,” he said. “And once again I called for reforms to hold Wall Street accountable and to protect consumers. These reforms would put an end – once and for all – to taxpayer bailouts.” (yeah, right!)

(End of update)

Awhile back, I posted the 12 part series of G. Edward Griffin’s lecture on the Federal Reserve System based on his book The Creature From Jekyll Island. During the course of that lecture, Mr. Griffin mentions that the media in 1912 and 1913 were publicly denouncing the Fed so as to swing the public’s opinion toward passage. Please keep that in mind when you think about banks and lobbyists hammering this bill. Almost 100 years has passed since we were saddled with a european central bank, and the end product of this bill is going to be anything but positive. Come to think of it, my host and my site starting going sideways again right after I posted Obama Turns Financial Reform Into A Political Fight which details the new federal agency, Office of Financial Research that is allowed to invest any funds they aren’t using in the same institutions they are reporting on, and the returns aren’t considered the government’s money. I just heard a report that the yearly budget of this office is $500 Billion with a large initial start up budget. We don’t need another federal agency but above and beyond that, do we want every single record of every single transaction (including you going to the ATM) in a centralized computer database that will become the Vahalla for hackers and a treasure trove of information for a government already gone wild? I freakin’ thought the Patriot Act was bad enough. Greta interviewed Karl Rove about financial reform with the pertinent information starting at 2:50 and the clearing house of financial information at 6:30.

For those that still do not know how we were hijacked, and continue to be held hostage by the Fed, here is a short 4 minute video from Mr. Griffin summarizing The Fed. What follows is the entire lecture (audio) on one vid for those that want the entire story and want to double check my media reference. If you need more information or want to join Mr. Griffin’s coalition, Freedom Force International, just hit the link.

Edward Vreeland, co-author of the bill, wrote in the August 25, 1910 Independent (which was owned by Aldrich),

“Under the proposed monetary plan of Senator Aldrich, monopolies will disappear, because they will not be able to make more than four percent interest and monopolies cannot continue at such a low rate. Also, this will mark the disappearance of the Government from the banking business.

*break*

Glass’s denunciation of the Aldrich Bill as a central bank plan ignored the fact that his own Federal Reserve Act would fulfill all the functions of a central bank. Its stock would be owned by private stockholders who could use the credit of the Government for their own profit; it would have control of the nation’s money and credit resources; and it would be a bank of issue which would finance the government by “mobilizing” credit in time of war. In “The Rationale of Central Banking,” Vera C. Smith (Committee for Monetary Research and Education, June, 1981) writes,

“The primary definition of a central bank is a banking system in which a single bank has either a complete or residuary monopoly in the note issue. A central bank is not a natural product of banking development. It is imposed from outside or comes into being as the result of Government favors.”

Thus a central bank attains its commanding position from its government granted monopoly of the note issue. This is the key to its power. Also, the act of establishing a central bank has a direct inflationary impact because of the fractional reserve system, which allows the creation of book-entry loans, and thereby money, a number of times [greater than] the actual “money” which the bank has in its deposits or reserves.

*break*

Congressman Lindbergh’s Speech

Testifying before the Committee on Rules, December 15, 1911, after the Aldrich plan had been introduced in Congress, Congressman Lindbergh stated,

“Our financial system is a false one and a huge burden on the people . . . I have alleged that there is a Money Trust. The Aldrich plan is a scheme plainly in the interest of the Trust . . . Why does the Money Trust press so hard for the Aldrich Plan now, before the people know what the money trust has been doing?”

Lindbergh continued his speech,

“The Aldrich Plan is the Wall Street Plan. It is a broad challenge to the Government by the champion of the Money Trust. It means another panic, if necessary, to intimidate the people. Aldrich, paid by the Government to represent the people, proposes a plan for the trusts instead. It was by a very clever move that the National Monetary Commission was created. In 1907, nature responded most beautifully and gave this country the most bountiful crop it had ever had. Other industries were busy too, and from a natural standpoint all the conditions were right for a most prosperous year. Instead, a panic entailed enormous losses upon us.

Wall Street knew the American people were demanding a remedy against the recurrence of such a ridiculously unnatural condition. Most Senators and Representatives fell into the Wall Street trap and passed the Aldrich Vreeland Emergency Currency Bill. But the real purpose was to get a monetary commission which would frame a proposition for amendments to our currency and banking laws which would suit the Money Trust. The interests are now busy everywhere educating the people in favor of the Aldrich Plan. It is reported that a large sum of money has been raised for this purpose. Wall Street speculation brought on the Panic of 1907. The depositors’ funds were loaned to gamblers and anybody the Money Trust wanted to favour. Then when the depositors wanted their money, the banks did not have it. That made the panic.”

3 Responses to Gerald Celente’s Take On Financial Reform (UPDATED)

I have to admit my eyes glaze over with too much financial information at once. You have all the documents in chronological order, so when I can focus I will come back and read them or attempt to read them.

The only way to undo all of this is to end the FED which I know we all agree on, so many layers which I am sure was intentional to keep us all confused, can you imagine trying to figure all this out 100 years ago? Me neither.

Maybe Obama wants to end bailouts because there are those who are just as deceitful as he.

I saw the GM commercials and I knew there had to be a back story. Seems GM is paying back the first bailout with second bailout money, how clever of them.

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A democracy is nothing more than mob rule, where fifty-one percent of the people may take away the rights of the other forty-nine.

~Pres. Thomas Jefferson~

For The Love Of GOD! Is It Time YET To Arrest The Un-Constitutional Dictator?

UPDATE: US Loses AAA Credit Rating Under Obama's Watch How's that for standing on the wall and protecting America?

LIBYA ISN'T A WAR????? Nope, it's just a way to keep Gaddafi from putting the Libyan Dinar on a gold standard and collapsing the dollar, Japan, March Madness bracket picks, a fake BC, robosigning Patriot Act... How negligent, delinquent, and downright un-Constitutional do Obama's actions or lack thereof have to be before SOMEBODY in Congress calls his lame, apathetic and incompetent ass on the carpet? Anybody, anybody?

Can you say complicit and collaborators?

THIS is going to end very badly for some people...

Mark.My.Words.

Brain Dead Corporate Moo

Sure I'll vote for Mitt Romney (or Newt or Perry or Santorum or Cain) while I'm eating Monsanto GMO foods, drinking water laced with Fukushima radiation and chemtrail ingredients, and watching the price of EVERYTHING go through the roof!!!

Where do I sign up?

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Reserved for the Department of Homeland Security

How's my file coming along?

As for the rest of you moos, if we don't start putting our foot down with people who obviously have not cracked a history book ever we are going to get what we deserve - more Big Brother tactics from DHS. Aren't the cameras and the warrantless investigations because you may become a terrorist at some point in the future a bit much? Since when are we, as Americans that have read the Constitution, considered to be domestic terrorists? At what point do we tell them here's the line that you may not cross? The only thing they haven't taken from us now is the 2nd Amendment. And yes, I am going to keep poking both DHS and The Federal Reserve Mafia with big, pointy and very sharp, verbal sticks because both these overblown entities were given power by progressive asshats. Nope, not one frakkin' word about Bush 43 not being a progressive!

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"The country is headed toward a single and splendid government of an aristocracy founded on banking institutions and moneyed incorporations and if this tendency continues it will be the end of freedom and democracy, the few will be ruling...I hope we shall...crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government to trial and bid defiance to the laws of our country. I sincerely believe that banking establishments are more dangerous than standing armies."